admin 
Crypto exchange Coinbase expands its asset recovery tool with new networks. We have prepared the details for you!
Coinbase Added Two More Networks to Its Asset Recovery Tool!
Coinbase, one of the leading cryptocurrency exchanges in the US, announced in a statement that it has added BNB Smart Chain and Polygon networks to its asset recovery tool.
In the post made on February 27, 2024, it was announced that as of today, users will be able to recover funds mistakenly sent to Coinbase on the BNB Smart Chain and Polygon.
With the new feature, users will be able to apply to Coinbase with just their identity and wallet addresses, and recover funds accidentally sent to Coinbase via BNB Smart Chain and Polygon.
Coinbase initially launched its asset recovery tool in December 2022, exclusively for the Ethereum network. The recovery tool has recovered about $160 million in funds from the Ethereum network since its establishment.
The crypto exchange, which has pointed out in the past that these assets were irrecoverable, presented the lack of access to the private keys required by employees and the support team to reverse these transactions as the reason.
Our asset recovery tool just got an update.
Starting today, users can now recover funds mistakenly sent to Coinbase on BNB Smart Chain and Polygon. https://t.co/asRGSQryCB
— Coinbase 🛡️ (@coinbase) February 27, 2024
It Will Charge 5% Commission From Recovery Transactions!
While mistakenly sent assets can be withdrawn, it takes quite a bit of time and effort to recover them.
Coinbase also announced that it will charge a commission for the asset recovery operation. Coinbase, which will not charge a transaction fee for assets under $100, emphasized that it will charge a 5% commission on higher transaction amounts.
You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don’t forget to follow us on our Telegram ,YouTube and Twitter channels for the latest news and updates instantly.